The 2018 encrypted bear market it was different from previous downward trends in the cryptography market.
Initially, a correction was defined, but now the narrative of the correction seems to no longer fit. There does not seem to be any technical or fundamental reason why the market is declining. The basic explanation of common sense is that more money is coming out than entering.
Interestingly, people are not selling because something is wrong. Rather, they are selling because their expectations have not been met.
There are traders and investors who put an end to the market because they think it is too expensive. The fundamentals are always the same, and therefore Bitcoin remains an efficient means for cross-border financial transactions.
Various senior officials in technology and financial sector keeps repeating that Bitcoin e the cryptocurrencies are here to stay. And as such, they are subject to economic cycles just like other goods and raw materials.
Bear markets are generally considered i time to buy. But since most people have seen their resources become so devalued, they are beaten by their emotions.
In the case of the crypto, market uncertainty makes the industry a long-term reserve. The problem arises when non-traders want to make successful short-term trades. Smart retail investors adhere to a strategy, like the structure of the 5-coin wallet.
A race to the bull will one day return to the encrypted market, both in 2019 and in the distant 2024 (hopefully before then!). At this point some current coins will be close to absolute zero; some coins will not be different from what they are today, and some coins will be worth more than they are today.
There is already a prediction that the cryptographic market will be assessed at 10 times the level it is today. Joey Krug, CIO of Pantera Capital, says the market could be valued at over $ 2 billion in the next bulls race.
Here are some coins that I think can have at least 10x of their value when the bulls come back.
The choice of 10x is an arbitrary number, not based on any technical analysis. Rather, it is only a way of evaluating projects with strong fundamentals that will likely see a significant surge when the market evolves. These cryptocurrencies could realistically have a value equal to or greater than 20 times, however the 10X expresses moderate optimism.
Disclaimer: this is just an opinion. This article is meant to be used only as a guide and is not intended as a financial advice. There is no substitute for doing your research and, as always, do not invest more than you are willing to lose.
4 Cryptocurrencies that could suffer an increase of 10 times in the next race (opinion)
Bitcoin is the first cryptocurrency and market leader in the industry.
Initially it was created as a peer-to-peer payment method, but now it is the case that it is a value reserve it is much stronger than its currency use. Indeed, some popular figures in cryptographic space have even claimed not to use Bitcoin for daily transactions.
For example, Bitcoin developer Jimmy Song suggests an indirect way to use Bitcoin to pay for daily expenses in one solution:
If you want to use Bitcoin as a payment method, this strategy is more rational and convenient than doing a lot of on-chain tx:
1. Switch with your credit card without debits.
2. When your credit card account arrives, sell enough bitcoins to pay the bill.
– Jimmy Song (송재준) (@jimmysong) 8 October 2018
This idea seems good from a value point of view. However, for those who think of Bitcoin as an alternative to Fiat, it seems counter-intuitive and detrimental to the goal of mass adoption.
However, everyone seems to agree that more transactions on the Bitcoin network are a good thing.
There are some criteria when considering coins that could be worth 10 times their current value in the subsequent bull run.
The first is the amount of development currently underway on the platform. While many other cryptographic projects are struggling with funding-based development, Bitcoin seems to be capitalized enough to avoid this. In order for each cryptocurrency to increase its current value up to 10 times, it must first do so survive this bear market.
Many cryptographic projects have already stagnated development. Bitcoin, however, has the strength of a decade behind it.
Right in the middle of this bear market, Bitcoin is still experiencing development, particularly on the Lightning network, which will bring low-cost, scalable and instant payments through blockchain.
Another criterion is the strength of the community. Bitcoin has already survived several bear trends in the past. Most of the older members of the Bitcoin community are not troubled by the bear market.
Indeed, Erik Voorhees, CEO of ShapeShift, tweeted this:
Tally the people who go crazy for the encrypted prices, and you'll find out that 95% of them entered the crypt in 2015 or later.
– Erik Voorhees (@ErikVoorhees) December 9, 2018
In the narrative of relevance of the real world, Bitcoin is becoming a reserve of value, as suggested by one of the most important books on Bitcoin, The Bitcoin standard. There is also the possibility that Bitcoin will not only challenge the $ 7 trillion gold market, but also the arts, paintings and every other commodity used to store wealth.
Other two points of consideration are scalability and mass adoption.
The Lightning Network is already on its way to solving Bitcoin's scalability problem, although it will take some time before it is perfected.
If perfected by the next bull run, it could drive the value of Bitcoin up. This is because the problem of low transaction speeds will be solved forever and there will be no or no reason to use centralized systems.
Mass adoption has already started for Bitcoin. Institutional investors are already becoming attracted, and it's only a matter of time before a Bitcoin ETF is approved.
Furthermore, it is easier for people to buy Bitcoins with easy-to-use mobile platforms and platforms. It is almost certain that Bitcoin will survive this bear market and, with these points of view, has the definitive potential to grow up to 10 times its current value in the next bull run.
10x the current value of Bitcoin places it at around $ 35,000, which is equivalent to a market capitalization of about $ 735 billion.
Ethereum has been seriously affected by the bear market, with its value falling more than 90% from its historical high. Ethereum lost its second place in terms of market capitalization for Ripple, as the decline in Ethereum prices has grown more deeply.
The impact of this can be seen in various projects related to Ethereum, especially recently when ConsenSys due 13% off of his staff.
However, Ethereum still remains a project to watch on the encrypted space.
There are signs that Ethereum could make a valuation return and grow to over 10 times its current value in the next bull run.
Even though ConsenSys has had to lay off its staff recently, the organization still has over 500 people working on development at Ethereum. The redundancies were expressed by the organization as part of a restructuring to make the company more efficient.
The high level of development on Ethereum still requires some confidence in the project.
The Ethereum community remains strong and active during this bear period. Ethereum's story remains that it is still a preferred platform for dapps and smart contracts.
Ethereum is also working to solve its scalability problem through solutions like sharding and the Casper Protocol. If Ethereum achieves this goal before the next race, there is a strong chance that investors and developers will return to the crowd, giving the price of ETH a much needed boost.
The price of Ethereum is currently around $ 100. 10 times that price would be $ 1,000.
Ethereum has already gone beyond this milestone in the 2017 bull race, which means that if the platform gets smaller, a bull run could send over $ 1,000. At this price, the market capitalization will be around $ 100 billion.
Monero it is probably the most popular cryptocurrency in the privacy and anonymity space.
The main purpose of Monero is to facilitate private transactions and fungibility, allowing the value to be moved anonymously all over the world. Monero faces other privacy-focused currencies such as Zcash and Dash, as private, untraceable, fungible and decentralized.
Monero has a harmony schedule which records its gradual development.
His community is not as big as those of other cryptographic projects, but they are very busy with the project. The Monero community has remained impassive, even if its price has fallen by around 90% in this bear market.
Monero has a scalability problem like most blockchains. While Monero's scalability problem it is not as serious as that of Bitcoin or Ethereum, but it is equally disturbing.
An increase in the popularity of Monero could test its current scalability solution. Monero has a dynamic block size that is expected to resize, but a more robust scaling solution will be required. T
The current scaling solution on which Monero is working is known as RuffCT. If the blockchain is scaled correctly, this will give a huge boost to the cryptocurrency.
The case of Monero up 10 times is the lack of privacy shown by most of the large technology companies. While most people seem unaware or unconcerned about how much their privacy has been violated, recent scandals with data collection and other invasive tactics have put this problem on the forefront.
Monero is currently priced around $ 44. A 10-fold increase in the price would lead to $ 440.
The price of Monero has already exceeded this value in the bull's run in 2017. This price would make the market capitalization of Monero around $ 7.4 billion.
Another cryptocurrency that currently seems to promise in this bear market is Tron.
Despite the tendency of the bear, project developments made in 2018 are notable. Tron launched your mainnet, bought BitTorrentand recently he had some developers on other platforms move their projects to Tron.
These are all good signs for the encrypted project, although the bear market has seen the currency fall more than 93% from its historical high.
Development in Tron has grown significantly, with the team being transparent about the current state of community development through the Blog Tron.
The Tron community is also very strong, and becomes stronger as Tron considers the adoption of the privacy function on his blockchain.
In terms of scalability, Tron is quite forward in the race, reaching a speed of 2,000 transactions per second, which is obviously a desirable trait in a blockchain.
In fact, Tron has recently boasted of surpassing Ethereum in use everywhere Tron remains a platform for dapps, but takes mass adoption seriously. This can be observed with Project atlas, where Tron and BitTorrent are setting up their platforms to create the future of file sharing.
Tron is currently priced around $ 0.013. A 10x price tag would make $ 0.13. In 2017, Tron recorded a historical maximum value of $ 0.23.
Tron seems to be coming back $ 0.13 when this bear market shrinks, and could even reach 20x or 30x of its current level today. At 20x, Tron will be valued at $ 0.23 and the resulting market capitalization will be approximately $ 23 billion.
Every product at economic prices experiences economic cycles. The major cycles are known as the bull and the bear. It is said that the products are too expensive in the bull market and undervalued in the bear market. No aspect of the cycle is permanent: one leaves the place over time.
Nobody knows with certainty when a bull market will come again, but as long as the industry exists and is still valid, a bull market will surely return. The cryptocurrency that will thrive in the bull market will be one that has undergone significant developments (even in times like this), with a strong community, a real-world application narrative, scalability and appropriate placement for mass adoption.
Those on this list are those with strong fundamentals, which means they have the potential to not only survive this bear market, but to thrive once the next bull market arrives.